{"id":"F2008B00191","name":"Superannuation (Productivity Benefit) 1996-97 First Interest Factor Declaration","slug":"superannuation-productivity-benefit-1996-97-first-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"117 of 1996","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72855,"registerId":"commonwealth-F2008B00191-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1996-97 First Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1996 No. 1171\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1996-97 First Interest Factor Declaration\n\nI, JOHN FAHEY, Minister for Finance, make the following Declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 17 June 1996.\n\nJOHN FAHEY\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as the Superannuation (Productivity Benefit) 1996-97 First Interest Factor Declaration.\n\n> Note: \\[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.\\]\n\nInterpretation\n\n2. In this Declaration:\n\n“Act” means the Superannuation (Productivity Benefit) Act 1988;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 1996—the number of days in the period:\n\n(i) commencing on the last day of the first pay period of the employee ending after 1 July 1996; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4f of the Act; or\n\n(b) in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year commencing on 1 July 1996—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1996; and\n\n(ii) the day on which the interim benefit became payable; or\n\n(c) in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 1996 and in respect of whom an interim benefit does not become payable during that year—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1996; and\n\n(ii) 30 June 1997.\n\nDeclared first interest factor\n\n3. For the purposes of section 8a of the Act, the declared first interest factor for the financial year commencing on 1 July 1996 is:\n\n.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 28 June 1996.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This Declaration does not change who is covered by the Superannuation (Productivity Benefit) Act 1988; it only specifies a year‑specific parameter (the first interest factor) and clarifies how to count days for that year. The supplied text, however, omits the numeric factor that would be applied, which affects implementation but not the statutory scope of coverage (see sections 2–3 as supplied)."},"complexity_factors":["Cross-references to provisions of the underlying Act that determine legal effect (declared factor applies “for the purposes of section 8a of the Act”) — creates dependency on external statutory text (section 3).","Three alternative, conditional definitions of “Days” that depend on employee status (new fund employee, interim benefit recipient, or neither) — requires case‑by‑case computation (section 2).","Day counts depend on payroll period end dates and the dates on which payments or interim benefits first become payable — increases administrative calculation work and requires accurate payroll records (section 2(a)(i)/(ii), 2(b)(i)/(ii)).","Reference to specific Act provisions for triggers (first amount payable under section 4f; interim benefit under section 6) — implementation requires cross-checking of entitlement events against payroll timing (section 2(a)(ii), 2(b)(ii)).","The Ministerial declaration mechanism concentrates discretion in the Minister to set a year‑specific numeric parameter — affects predictability and requires annual or periodic administrative updates (overall instrument).","The supplied instrument text omits the actual numeric value for the declared first interest factor, creating immediate ambiguity for implementers (section 3 as supplied).","Commencement on gazettal (note referencing Acts Interpretation Act 1901, ss.46A and 48) can affect timing and retrospective application of the declared factor."],"plain_english_summary":"This Declaration sets the “first interest factor” that will be used to calculate interest under the Superannuation (Productivity Benefit) Act 1988 for the 1996–97 year and defines how to count the number of days used in those calculations for different employee situations. It affects Commonwealth fund employees, people paid interim benefits under the Act, and the agencies that administer those payments.\n\nThe Minister for Finance makes the declaration; administrators must apply the declared factor and the day‑count rules to payroll dates, changing benefit calculations and payment obligations. The supplied text omits the numeric factor that would be applied."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly its intended function: setting the annual interest factor for productivity benefit calculations for a specific financial year. It does not expand beyond the original purpose of the parent Act."},"complexity_factors":["Only 3 operative sections with minimal text","Single defined term ('Act') plus one complex defined term ('Days') with three nested sub-paragraphs ((a), (b), (c)) each containing sub-sub-paragraphs ((i), (ii))","Heavy reliance on external statute (Superannuation (Productivity Benefit) Act 1988) for context — sections 4f, 6, and 8a referenced without explanation","Conditional logic in the 'Days' definition requires tracking three different employee scenarios with different date calculations","Missing substantive content: the actual interest factor value appears blank (just a decimal point with blank space)","No cross-references to other legislation beyond the parent Act and standard Acts Interpretation Act provisions"],"plain_english_summary":"This instrument sets the interest factor used to calculate productivity benefit payments for Commonwealth public servants for 1996–97, determining how much interest is added to those entitlements. It affects employees who joined, left (interim payments), or remained in the scheme during that year by specifying how “Days” in the scheme are counted for interest calculations. The actual numeric rate is not shown in the text."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1996-97-first-interest-factor-declaration/documents"}}